Among the companies with shares expected to actively trade in Friday’s session are CarMax Inc.(KMX), Darden Restaurants Inc.(DRI) and Oracle Corp.(ORCL)
CarMax said its fiscal first-quarter profit jumped 16% on an uptick in consumer traffic. Results beat expectations, pushing shares up 14% to $51.71 premarket.
Darden posted another period of declining sales at its Olive Garden and Red Lobster chains, while its quarterly earnings slid 35% thanks to higher costs and expenses. The casual-dining restaurant operator’s profit fell far short of market expectations, pushing shares down 4.1% to $47.47 in premarket trading.
Oracle said sales of new software licenses, a closely watched metric, were flat in its latest quarter, while its profit for the period fell 4.2% on higher expenses. Shares declined 6.4% to $39.78 premarket.
AK Steel Holding Corp.(AKS) said second-quarter results will be hurt by lower production at blast furnaces, a move the company said was necessary because ice coverage on the Great Lakes delayed the shipping season and reduced the iron-ore supply. Shares dropped 5.2% to $7.05 premarket.
Cubist Pharmaceuticals Inc.(CBST) said the Food and Drug Administration accepted for priority review the company’s new drug application for its investigational antibiotic for complicated urinary tract and complicated intra-abdominal infections. Shares rose 3.6% to $71 premarket.
Activist investor Carl Icahn said Thursday that it is imperative Family Dollar Stores Inc.(FDO) (FDO) be put up for sale immediately, and he again threatened to replace the discount retailer’s board. Shares edged up 2.1% to $69.60 premarket.
Merrimack Pharmaceuticals Inc.(MACK) and Sanofi (SAN.FR) have ended their license and collaboration agreement for the development and commercialization of Merrimack’s antibody MM-121 to treat several forms of cancer. Merrimack dropped 10% to $7.07 premarket.
Owens Corning (OC) lowered its earnings outlook for the year Friday as its roofing business continues to see weaker volumes. Shares slid 7% to $38.40 in premarket trading as the company said weakness in roofing volumes seen in the first quarter continued in April and May, dragging down its full-year expectations.
Midstream energy company Targa Resources Corp.(TRGP) said it had terminated “high-level preliminary discussions” on a potential merger with Energy Transfer Equity LP(ETE). Targa shares dropped 9.7% to $136 premarket.
No comments:
Post a Comment